aj485’s Activity

Today

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 12:20 AM

Re: My week of credit card reduction

We assign a Pay Over Time limit to your Account.
We will not place any charge into a Pay Over Time
balance if it causes the total of your Pay Over Time
balances to go over your Pay Over Time limit. We
may reduce or increase this
[more]

Sun Apr 20

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Boards Post

aj485 replied to the Tax Strategies board. 1:00 AM

Re: Pro Rata Rule

Based on the article below, it seems that if I roll my 401K (very large) from my former employer into an IRA, I can then no longer take advantage of the “back door ROTH IRA contribution” because I’ll have too much in an IRA and can no longer roll [more]

Fri Apr 18

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 3:21 PM

Re: My week of credit card reduction

Completed the balance transfers to Amex from chase slate, a new credit card, and my existing chase. Amex now stands at 14k. Have 10k at 0%.

That's great. If you can make the $1100 minimum payment that you were making on Amex, plus [more]

Tue Apr 15

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Boards Post

aj485 replied to the Tax Strategies board. 10:13 PM

Re: House value when converting to rental

Nowhere was the air-quoted "selling" mentioned or implied.

The OP's original post said:

I don't think there is a way to use the "living in the house at least 2 of the last 5 years" tax deduction here, [more]

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Boards Post

aj485 replied to the Tax Strategies board. 5:52 PM

Re: House value when converting to rental

I think you missed that the question you answered was linked to the prior question:

What about moving it to a family trust?

If you sold it at roughly fair market value, would there be a related party sales [more]

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Boards Post

aj485 replied to the Tax Strategies board. 2:15 AM

Re: House value when converting to rental

What about moving it to a family trust?

If you sold it at roughly fair market value, would there be a related party sales issue?


As long as it's the family trust of a family the current owners are not related to, either by [more]

Mon Apr 14

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Boards Post

aj485 replied to the Retirement Investing board. 2:23 AM

Re: What to do with 401K rollover funds?

I had about $52K split into both traditional and Roth funds with my previous employer's 401k plan. I've since moved the money to USAA brokarage accounts and now I'm looking for ideas on how to invest the 2 accounts.

What was it [more]

Sun Apr 13

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 4:00 AM

Re: Paid off my chase card!

The standard balance transfer fee is 3% min $5. Sometimes they give promotional balance transfer fee of 2% min $5.

All offers need to be read carefully as the fees are highly dependent on the specific offer. I have been given BT [more]

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aj485 replied to the Tax Strategies board. 3:48 AM

Re: Confused by p.936 -- Raw Land for Home build

My understanding is that it is a requirement that the property has to have those 3 things - not that it has to have them at the time of purchase.

But it would have to have those facilities during the year for which the interest [more]

Thu Apr 10

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 10:51 PM

Re: Why I know how important credit repair can be

Perhaps you can help me with something that has been eating at me for a while.

Probably not, because it's not actually clear what has been eating at you. You switch from talking about their credit score to saying I am with [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 10:22 PM

Re: Paid off my chase card!

Paid off my high interest Chase card!

Woo-hoo!!!!

So happy to see that 0 balance.

The limit of chase is 7400. My plan was to transfer 7k to my Amex balance of 23k at 15.24%. The offer expires
[more]

Tue Apr 8

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Boards Post

aj485 replied to the Foolish 401(k)s board. 10:00 PM

Re: 401k tax credits

No, I read those rules to mean a married couple earning $300K will probably be classed as a highly compensated employee at at least one employer. That will limit their tax deductible contribution to somewhat less than $15K.

Not [more]

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Boards Post

aj485 replied to the Foolish 401(k)s board. 9:59 PM

Re: 401k tax credits

Thanks AJ. So, if I'm reading this correctly, then would a married couple filing jointly making $300,000 be able to contribute 5% of their salary to a 401(k) and be able to deduct the $15,000 contribution from their income, thus lowering their [more]

Mon Apr 7

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Boards Post

aj485 replied to the Foolish 401(k)s board. 10:50 PM

Re: 401k tax credits

Does anyone know if there are income limits that, if exceeded, do not allow for tax credits on 401k contributions? I know there is for Traditional IRAs so I am just wondering about 401ks as well. This would be for married filing jointly. Thank [more]

Sun Apr 6

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Boards Post

aj485 replied to the Tax Strategies board. 4:48 PM

Re: multiple states and turbotax

Is there a way around purchasing this extra state module... do part of the return manually or am I stuck...

Did you check the MN state website to see if he really has to file for MN? [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 3:59 PM

Re: Budget!

My husband and I try to live off of one salary. He pays the mortgage, contributes some to our household account, and then the rest of his salary goes to savings. I pay everything else.

Well, I wouldn't call this arrangement 'living [more]

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aj485 replied to the Credit Cards and Consumer Debt board. 2:31 PM

Re: Got debt?

Interestingly, since they have seen how aggressive I have been in paying down the card, they will offer me a balance transfer rate of 0% up to my max limit which is 7200. I think I will take it if the board think it's [more]

Sat Apr 5

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 2:04 PM

Re: Got debt?

Reading your comments makes me realize part of my problem is how fluid I am with the numbers. Too fluid.

That's a good realization. One of the other ways the 'fluidity' was exhibited was in how 'round' the debt numbers were. It can [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 2:11 AM

Re: Got debt?

Thankfully I kept my well paying day job but owe about a third of what I take home.

So, when you say 'I owe about a third of what I take home' do you mean that your take home income is $212k/year (3 x $70.7k)? Or do you mean that your [more]

Wed Apr 2

NL

Boards Post

aj485 replied to the Buying or Selling a Home board. 5:57 PM

Re: delayed moving expenses

Any chance that this could still legitimately be claimed as a moving expense?

Here's a link to a questionnaire from the IRS that guides people through the question "Can I deduct my moving expenses?" [more]

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